Equities research analysts expect II-VI, Inc. (NASDAQ:IIVI) to report sales of $339.47 million for the current quarter, according to Zacks. Five analysts have issued estimates for II-VI’s earnings, with estimates ranging from $339.00 million to $340.00 million. II-VI reported sales of $294.75 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.2%. The company is expected to report its next quarterly earnings report before the market opens on Wednesday, May 1st.
On average, analysts expect that II-VI will report full year sales of $1.35 billion for the current fiscal year, with estimates ranging from $1.34 billion to $1.36 billion. For the next year, analysts expect that the firm will report sales of $1.50 billion, with estimates ranging from $1.45 billion to $1.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover II-VI.
II-VI (NASDAQ:IIVI) last released its earnings results on Thursday, January 31st. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.04. II-VI had a net margin of 8.81% and a return on equity of 10.93%.
A number of equities research analysts have issued reports on the stock. BidaskClub upgraded shares of II-VI from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Zacks Investment Research downgraded shares of II-VI from a “buy” rating to a “hold” rating in a research report on Friday, January 18th. ValuEngine upgraded shares of II-VI from a “hold” rating to a “buy” rating in a report on Monday, February 25th. Benchmark restated a “buy” rating and set a $55.00 price target on shares of II-VI in a report on Friday, February 1st. Finally, Morgan Stanley set a $44.00 price target on shares of II-VI and gave the company a “hold” rating in a report on Saturday, February 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. II-VI has an average rating of “Buy” and a consensus price target of $49.09.
IIVI stock traded down $0.37 during midday trading on Wednesday, reaching $41.02. The company had a trading volume of 343,744 shares, compared to its average volume of 709,728. II-VI has a 1 year low of $29.31 and a 1 year high of $50.75. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.40 and a beta of 0.83.
In related news, Director Francis J. Kramer sold 30,000 shares of II-VI stock in a transaction on Monday, March 11th. The shares were sold at an average price of $39.62, for a total value of $1,188,600.00. Following the transaction, the director now owns 192,647 shares in the company, valued at approximately $7,632,674.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Francis J. Kramer sold 10,050 shares of II-VI stock in a transaction on Friday, April 12th. The stock was sold at an average price of $40.52, for a total transaction of $407,226.00. Following the completion of the transaction, the director now owns 172,697 shares in the company, valued at approximately $6,997,682.44. The disclosure for this sale can be found here. Insiders have sold a total of 81,050 shares of company stock worth $3,263,657 in the last 90 days. 4.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Divisar Capital Management LLC raised its holdings in II-VI by 4.8% in the 4th quarter. Divisar Capital Management LLC now owns 219,526 shares of the scientific and technical instruments company’s stock worth $7,126,000 after acquiring an additional 10,000 shares during the period. Vanguard Group Inc grew its position in II-VI by 4.5% in the 3rd quarter. Vanguard Group Inc now owns 5,867,148 shares of the scientific and technical instruments company’s stock worth $277,516,000 after purchasing an additional 253,898 shares during the last quarter. Employees Retirement System of Texas acquired a new stake in II-VI in the 4th quarter worth $747,000. Thrivent Financial for Lutherans grew its position in II-VI by 6.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 40,106 shares of the scientific and technical instruments company’s stock worth $1,897,000 after purchasing an additional 2,349 shares during the last quarter. Finally, FMR LLC acquired a new stake in II-VI in the 3rd quarter worth $12,660,000. Hedge funds and other institutional investors own 91.85% of the company’s stock.
II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.
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